In the first half of this year, the economy of Azerbaijan with 28.7 billion manat index rose by 2.1%. At the same time the growth rate of GDP per capita was higher - 4.3%.
According to the State Statistics Committee, the share of non-oil sector in GDP increased from 55% to 56.3%. The share of mining and processing of oil and gas in the GDP decreased 3.9%.
The GDP was divided between industry - 46%, construction - 10.7%, agriculture and services - 31.8%, and net taxes - 7.1%. Most growth was seen in hospitality and catering - 14.8%.
From the beginning of the year, the GDP per capita amounted to 3,063.3 or $ 3,900.
In 2013, GDP per capita, Azerbaijan was ahead of most of the countries of the CIS and Georgia, and took 3rd place with $ 7912 after Russia ($ 14,618) and Kazakhstan ($ 12,933). Excluding the oil sector, Armenia is almost close to Azerbaijan: in this country in 2013, GDP per capita was $ 3,451. - 08D -
Economics
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Azerbaijan’s economic growth is expected to continue in the coming years, although forecasts from ING Group and the United Nations (UN) present slightly differing views on the pace of recovery. ING Group, the largest banking institution in the Netherlands, predicts modest growth in Azerbaijan’s gross domestic product (GDP), while the UN offers a more optimistic outlook.
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The average age of taxi cars in Azerbaijan has dropped from 15 to 7 years, according to a statement from the Azerbaijan Ground Transport Agency (AYNA), which attributes this change to the implementation of reforms.
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Kazakhstan has bolstered its position in international grain markets by resuming exports to Iran and Azerbaijan, according to the country’s Ministry of Agriculture.
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In recent years, Azerbaijan has quietly fostered a vibrant startup ecosystem that is beginning to make waves on the international stage. From digital education platforms to innovations in agrotechnology, these startups reflect the country's growing embrace of technology and entrepreneurship. A combination of government support, international collaboration, and bold entrepreneurial vision has propelled several Azerbaijani ventures into the global spotlight.
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